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Singapore's casino regulator fines Marina Bay Sands, Resorts World at Sentosa S$230,000
Malaysia's blue chips slip, heavyweights lead decliners
Malaysians in high demand overseas

Singapore's casino regulator fines Marina Bay Sands, Resorts World at Sentosa S$230,000

Posted: 15 Jan 2013 06:41 PM PST

Published: Wednesday January 16, 2013 MYT 10:41:00 AM

KUALA LUMPUR: The Casino Regulatory Authority of Singapore has imposed financial penalties totaling S$230,000 on Marina Bay Sands Pte Ltd (MBS) and Resorts World at Sentosa Pte Ltd (RWS).

According to its website on Tuesday, MBS was fined S$130,000 and RWS S$100,000 for various breaches from November 2011 to April last year.

For MBS, the offences ranged from not preventing Singapore citizens and permanent residents from entering and/or remaining on its casino premises without valid entry levies.

It was also penalized for failing to prevent six excluded persons from entering and/or remaining on its casino premises.

MBS was also fined for not preventing a minor from entering and/or remaining on its casino premises.

The regulator said the penalties imposed on RWS were failure to prevent Singapore citizens and permanent residents from entering and/or remaining on its casino premises.

RWS was also penalized for failure to prevent three excluded persons from entering and/or remaining on its casino premises.

RWS was also fined for failing to prevent two minors from entering and/or remaining on its casino premises.

Malaysia's blue chips slip, heavyweights lead decliners

Posted: 15 Jan 2013 05:44 PM PST

KUALA LUMPUR: Malaysia's blue chips fell in early trade on Wednesday due to the mixed closing on Wall Street, with heavyweights Sime Darby, CIMB and Telekom Malaysia among the major decliners.

At 9.26am, the FBM KLCI was down 6.5 points to 1,679.39. Turnover was 210.29 million shares valued at RM66.48mil. There were 106 gainers, 110 losers and 183 counters unchanged.

Maybank KE Research expects a spell of price weakness to emerge. The KLCI's resistance level of 1,685 and 1,699 would cap market gains, whilst weaker support areas were located at 1,670 and 1,683.

"Due to the US markets' mixed tone, we expect the local index to be weaker and volatile today on liquidation activities," said the research house.

BAT was the top loser, down 40 sen to RM60.16. Among plantations, KL Kepong lost 16 sen to RM21.88 whie Sime Darby saw a surprising 14 sen decline to RM9.45.

CIMB lost seven sen to RM7.60 while TM shed six sen to RM5.68. Hong Leong Capital fell five sen to RM1.73, which was just two sen above the takeover price of RM1.71 by HLFG.

However, KrisAssets jumped 16.5 sen to 22.5 sen with 24.90 million shares after its cash distribution of RM2.60 for each share went ex on Wednesday. Its call warrants, KrisAssets-CB jumped 10.5 sen to 16.5 sen and it was the most active with 51.53 million units done.

Alam Maritim advanced three sen to 88.5 sen after it secured a RM576mil contract from Petronas Carigali Sdn Bhd to provide six marine vessels.

Malaysians in high demand overseas

Posted: 15 Jan 2013 05:30 PM PST

KUALA LUMPUR: Malaysians are an in-demand lot overseas, according to Korn/Ferry International country head and managing director Reza Ghazali.

Speaking yesterday at the company's soft launch at its new KL office in the city centre, Malaysians, he noted, are known to be outstanding due to the nation's multi-faceted environment, which compels its people to be robust, flexible and ready workers in turn.

Korn/Ferry International recently entered into a definitive agreement to acquire Minneapolis-based PDI Ninth House, a leadership solutions provider that has been in business for nearly five decades.

"We can now bring our solution lines together. From our position as a search company, we are now partnering with companies to manage their business by tailoring leadership solutions that integrate assessment, skills development and coaching,"

Korn/Ferry Asia Pacific president Charles Tseng added: "In essence, we want to groom, and not just recruit. We are ready to offer international exposure to local talents, but the question is: Are these talents ready to leave? The ultimate objective is for them to grow and lead the local business when they return."

Several in-house surveys have indicated talent management as a key challenge that most companies face today, hinting at the longstanding issue of unstructured succession planning.

"CEO succession is one of the most significant business challenges for boards in Asia at the moment," Tseng said. "We see shifts that impact succession planning, such as those of family-run businesses moving to professional management, founders' handovers to successors, as well as government-linked companies benchmarking themselves against world-class companies."

The talent management firm's solutions are to align future CEO criteria with short- to long-term business strategy using research-based assessment tools to identify high potentials to deepen its pool of executive talent.

To help companies manage efficiency and effectiveness levels, internal and external talents are benchmarked against the same validated competency profiles.

These are some of the key exercises that Korn/Ferry prescribes.

"Our knowledge of local companies, their boards and CEOs, as well as our understanding of the Malaysian business context, help our clients nagivate this transition effectively. We are uniquely positioned to build on our global experience in this area and align our services to key trends impacting organisations in Malaysia," Reza said.

Kredit: www.thestar.com.my

Selasa, 15 Januari 2013